Gold Trades Flat Following Last Week’s Declines

The precious metal is on track to close flat on Monday. Price briefly slipped to test the 1817.80 level before pulling back.

Overall, gold prices are currently confined to trade within the 1850 and 1817.80 levels. Only a strong breakout from this range will confirm the next direction.

The bias remains to the downside for the moment, but that could change if gold prices manage to rise above the 1850 handle.

This will then potentially set the stage for gold to test the 1911.50 level. The Stochastics oscillator remains near the oversold levels and somewhat mixed.